Union Finance Minister Nirmala Sitharaman has urged the Ministry of Housing and Urban Affairs (MoHUA) to ensure that the capital expenditure (capex) target for the financial year 2024-25 is met within the stipulated time frame.
During a meeting with officials on Friday, the Finance Minister stressed that the entire budgetary allocation of Rs 28,628 crore should be utilised by the end of the financial year.
PressNews24 provides latest news, bollywood news, breaking news hollywood, top tech news, business standard news, indian economy news, world economy news, travel news, mumbai news, latest news mumbai loksabha election 2024, video viral news, delhi news, Only at PressNews24.in
The Finance Minister also highlighted the need for timely and efficient utilisation of these funds during a review meeting in New Delhi. The meeting is part of an ongoing series of reviews with ministries and departments that have significant capital expenditure allocations in the Union Budget.
“Union Minister for Finance & Corporate Affairs, Smt. @nsitharaman chaired a review meeting in New Delhi today to assess the budgeted capital expenditure #capex of the Ministry of Housing & Urban Affairs @MoHUA_India,” the Finance Ministry said in a social media post on 'X'.
According to the ministry, a major part of the discussion focused on the Pradhan Mantri Awas Yojana (Urban), which aims to provide affordable housing in urban areas.
Sitharaman stressed the need to accelerate progress under the scheme to meet the growing housing needs in urban India. She also urged officials of the Ministry of Housing and Urban Affairs to ensure that all necessary measures are taken to achieve the targets set under the PMAY (U) programme.
Apart from housing, the Finance Minister also emphasised the importance of urban transport infrastructure. He highlighted the need to meet the capital expenditure targets allocated for projects such as metro rail and Regional Rapid Transit System (RRTS). These projects are crucial for improving urban mobility and reducing congestion in growing cities.
“Finance Minister Smt. @nsitharaman also emphasised the importance of urban transport and urged the officials to meet the capital expenditure targets allocated for Metro Rail and Regional Rapid Transit System (RRTS),” the ministry said.
The review meeting was part of the efforts being made by the Finance Ministry to monitor and ensure effective utilisation of capital expenditure funds by various ministries and departments. The Finance Minister reiterated that timely implementation of these projects is essential to boost economic growth and improve urban infrastructure across the country.
